Cofco Agri Ltd to launch Nutripride soya oil

Cofco acquired Noble Agri in December 2015 and as per its global strategy for India, the company is aggressively eyeing the consumer branded vegetable oil market.Shramana Ganguly | ETRetail | November 21, 2016, 16:55 IST

Cofco acquired Noble Agri in December 2015 and as per its global strategy for India, the company is aggressively eyeing the consumer branded vegetable oil market. Nutripride will be available across northern and western Indian markets initially, he said.

While the company has invested Rs 150 cr to set up a plant with capacity of 1400 tonnes in Kandla, Gujarat, Cofco will look at a second refinery post retain expansion of Nutripride, he said.

“We see immense potential in soya oil and hence this decision to launch Nutrpride and focus on branded consumer segment. Demand is growing at 5-6 %,” he said. Branded Consumer vegetable oil segment will be a major thrust area for growth for Cofco in India and the company sees a sizeable customer base for vegetable oil specially soya oil.

“For the current year, refined soyabean oil demand is estimated at 4.5 MMT which is expected to increase to 7.3 MMT in next 5 years (7% annually). In terms of per capita soyabean oil consumption, the same shall increase from 3.5 to 5.3 kg by 2021.

Sachin Bansal, Binny Bansal, sales director Hari, accounts managers Sumit Anand and Sharauque among other employees have been named in the FIR registered on the basis of a complaint lodged by Naveen Kumar, owner of Indiranagar-based C-Store Company.